Foreclosure Help Video #1

Intro to A Loss Mitigation Plan

Hi, I’m Nevada Loss Mitigation Specialist and foreclosure consultant Damian Falcone and this is part 1 of the Loss Mitigation Plan video series for providing foreclosure help.

The goal of the loss mitigation plan series is to pose the questions that a homeowner comes across Either early on in their personal evaluation or even after a loan modification or work-out option occurs.

We will analyze these questions to provide foreclosure help and develop an equation that lets You the homeowner know – Based on your own decisions - What Your “Loss Mitigation Plan” should be.

In Episode 1 we will be answering the question: What is a “Loss Mitigation Plan”

Mitigation is defined in law as the Idea - that a party who has suffered loss has to take reasonable action to minimize the amount of the loss suffered.

For our discussions we will be looking at Loss Mitigation primarily from a homeowner’s Financial point of view. This will get you closer to answering the question “What should I do in the event I experience a loss – OR if I have already experienced a Loss”.

We need to Go through the process of figuring out what decisions will be best for you – You will be answering the questions:

Should I attempt to negotiate a loan modification?

What should I do now to put me in a better place in the future?

Am I experiencing a Financial Hardship?

Am I living at a surplus or deficit?

Is my employment stable?

What are the consequences to me and my family of moving?

At what price should I keep my house or what price should I look to rent something more affordable?And;

– These are a number of the questions everyone should answer with the goal Being ..Financial responsibility.

We are attempting to look at all the Components and consequences of your potential decisions- to give you an idea now of what you will be experiencing in the future.

We would like to show that homeowners/consumers should be looking a MINIMUM of 6 months into the future - And - that Paying Bills - Even 1st tier priority debts UNTIL YOU HAVE NO MONEY LEFT - is not responsible - to you, your family or your community. We will be looking at this from the point of view of the average mortgage loss mitigation plan for providing foreclosure help.